The Offshore Mooring Systems Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Offshore Mooring Systems Global Market Report 2024, The offshore mooring systems market size has grown steadily in recent years. It will grow from $1.72 billion in 2023 to $1.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to deepwater exploration and production, rise in offshore wind energy projects, increase in floating production systems, focus on safety and environmental protection, government initiatives for offshore development, globalization of offshore exploration, rapid development of offshore infrastructure..
The offshore mooring systems market size is expected to see steady growth in the next few years. It will grow to $2.17 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to emergence of floating solar farms, focus on reducing carbon footprint, enhanced monitoring and control systems, focus on predictive maintenance, floating production storage and offloading (fpso) dominance, expansion of floating lng facilities.. Major trends in the forecast period include technological advancements in mooring designs, dynamic positioning systems, advancements in offshore drilling technologies, pre-laid mooring systems, integration of automation and robotics, strategic partnerships and collaborations..
The escalating demand for energy is expected to propel the offshore mooring systems market growth going forward. Energy refers to the electricity and power that is generated by using natural resources. Offshore mooring systems are used in the floating wind systems for efficient extraction of energy by facilitating and maximizing energy production and transmission of power using cables and umbilical, as a result, escalating demand for energy increases the demand for offshore mooring systems. For instance, in 2021, According to the International Energy Agency, a Paris-based autonomous intergovernmental organization, the global energy demand is expected to increase by 47% in 2050. Therefore, the escalating demand for energy is driving the growth of the offshore mooring systems market.
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The offshore mooring systems market covered in this report is segmented –
1) By Type: Single Point Mooring, Taut Leg System, Semi-taut Leg System, Spread Mooring, Dynamic Positioning, Other Types
2) By Anchorage: Suction Anchors, Vertical Load Anchors, Drag Embedment Anchors, Other Anchors
3) By Depth of Operation: Shallow Water, Deepwater
4) By Application: Floating Production Storage and Offloading (FPSO), Floating Liquefied Natural Gas (FLNG), SPAR Platform, Tension Leg Platform (TLP), Semi-Submersible Platforms, Other Applications
Technological developments are a key trend gaining popularity in the offshore mooring systems market. Major companies operating in the offshore mooring systems market are focused on developing new technological solutions to strengthen their market position. For instance, in September 2021, Imenco AS, a Norway-based engineering company engaged in various subsea projects, launched 'Pacu', its innovative and transformational cathodic protection technology for mooring systems used in floating wind platforms or offshore aquaculture installations. Pacu is designed to be attached to the mooring chains to extend their lifespan by slowing down the rate of corrosion reducing the risk of mooring system failures to provide a cost-effective solution that can be retrofitted to existing chains. As a result, operations require less handling, shipping, and installation equipment, which lowers their overall carbon footprint. Additionally, numerous maritime sectors, such as offshore wind, as well as the oil and gas sector, including near-shore moorings and permanently anchored offshore buildings, can use Pacu.
The offshore mooring systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The global offshore mooring systems market size is expected to reach USD 2.66 Billion by 2028 and register a CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data.
Rising demand for energy globally and maturity of a number of onshore gas and oilfields has resulted in increased offshore field exploration activities, which are major factors driving market revenue growth.
Rapidly increasing global population and rising demand for energy are major factors expected to continue to drive market growth over the forecast period.Get Free Sample of this report : https://www.reportsanddata.com/sample-enquiry-form/4090Mooring systems are composed of mooring lines, anchors, wires, and chains and provide anchorage to ships, floating vessels, and platforms over water.
Rapid depletion of onshore oil and gas reserves has result in increasing investment in FLNG, FPSO, and SPAR among others for expanding offshore exploration activities.
Some Key Highlights From the Report:Spread mooring type segment is expected to register significant growth rate over the forecast period due to its use in any water depth, on vessels of different sizes, and in applications that necessitate high service life and quality.
Growth can also be attributed to its increasing use in unidirectional environment on floating offshore platforms that can endure severe environmental factors.Major companies operating in the market include Offspring International, Mampaey Offshore Industries B.V., Single Point Mooring Systems, Rigzone Mooring Systems, ScanaIndustrier ASA, Delmar Systems, Inc., Sofec, Moorsure Mooring Systems Solutions Pty Ltd, and Blue Water Energy, among others.In March 2021, Jebb Smith Ltd. formed Oasis Marine Power as a subsidiary to build on company’s expertise in marine mooring systems.
The global offshore mooring systems market size is expected to reach USD 2.66 Billion by 2028 and register a CAGR of 4.1% over the forecast period, according to the latest report by Reports and Data.
Rapidly increasing global population and rising demand for energy are major factors expected to continue to drive market growth over the forecast period.Mooring systems are composed of mooring lines, anchors, wires, and chains and provide anchorage to ships, floating vessels, and platforms over water.
Rapid depletion of onshore oil and gas reserves has result in increasing investment in FLNG, FPSO, and SPAR among others for expanding offshore exploration activities.
Mooring lines or anchors attach the ship or floating structure to sea floor and is imperative in subsea production facilities.
Increasing investment in Floating Liquefied Natural Gas (FLNG), Floating Production Storage Offloading (FPSO), and Single Point Anchor Reservoir (SPAR) among others, for expanding offshore exploration activities has been increasing significantly due to rapid depletion of onshore oil and gas reserves.
Increasing number of mature onshore oil and gas fields have also been boosting offshore exploration and production, and this is expected to fuel revenue growth of the market over the forecast period.Request A Free Sample Of Offshore Mooring Systems Market Report : https://www.reportsanddata.com/sample-enquiry-form/4090Some Key Highlights From the Report:Spread mooring type segment is expected to register significant growth rate over the forecast period due to its use in any water depth, on vessels of different sizes, and in applications that necessitate high service life and quality.
Global Offshore Mooring Systems Market Research Report, By Type (Spread, SPM, Dynamic Positioning, Tendons), Anchorage (DEA, Suction Anchors, Vertical Load Anchors), Application (TLP, SPAR, FPSO, Drill Ships, and Others), and Region — Global Forecast till 2023Offshore mooring systems comprise a mooring anchor, mooring lines, and connectors which are connected to the offshore rig to prevent it from floatation.
The rise in oil drilling and production activities is likely to be the major factor towards the adoption of these systems.
The global offshore mooring systems market report by Market Research Future (MRFR) outlines various trends and opportunities encompassing the landscape which can provide a unique perspective to first-time entrants as well as stalwarts.Market ProspectsThe global offshore mooring systems market is projected to expand at 4.7% CAGR from 2017 to 2023, as per MRFR.
High demand for floating production storage & offloading (FPSO) units in deepwater and ultra-deepwater projects can open up growth opportunities.Fall in crude oil prices coupled with discontinuation of offshore activities can pose a challenge to market growth.SegmentationThe offshore mooring systems market is segmented by type, anchorage, and application.By type, it is segmented into single point mooring (SPM), dynamic positioning, tendons, spread, and others.
On the other hand, the SPM segment can exhibit tremendous growth due to being extensively used in navigation of temperate environmental conditions.By anchorage, it is segmented into vertical load anchors, suction anchors, drag embedment anchors (DEA), driven pile, and others.
Suction anchors can account for a large market share till 2023 due to its cost-effective nature.By application, it is segmented into drill ships, SPAR, FPSO, semi-submersible, tension leg platform, and others.
Offshore Mooring Systems Market Research Report, By Type (Spread, SPM, Dynamic Positioning, Tendons), Anchorage (DEA, Suction Anchors, Vertical Load Anchors), Application (TLP, SPAR, FPSO, Drill Ships, and Others), and Region — Global Forecast till 2023Market Synopsis: Global Offshore Mooring Systems MarketMooring Systems support the anchorage of the ships or floating vessels and platforms across all sorts of water depths.
The market of offshore mooring systems has seen a huge growth from the last few years.
The factors which affect the market of offshore mooring systems are growth in oil and gas production and growing demand for energy.
Along with this, purchasing power of consumers are also increasing, which leads the high demand of transportation fuels.
However, lack of technological knowledge among the players may be a major challenge for the growth of the market.Get Free Report Sample : https://www.marketresearchfuture.com/sample_request/7505 Global Offshore Mooring Systems Market: Regional AnalysisThe global offshore mooring systems market is segmented on the basis of region into North America, Europe, Asia-Pacific, and Rest of the world (RoW).
Asia-pacific held the largest share in the offshore mooring systems market, followed by North America and Europe.
